6 Top Tips For Protecting Your Small Business From Theft

Every small business should take the threat of theft seriously. It’s not just shops, bars and other high street establishments that are at risk. Every business, no matter what kind, is in danger of this crime. Statistics for employee theft may be a lot higher than you think.

In fact, internal stealing causes serious financial repercussions and is a major reason many small businesses sink. To protect your enterprise from theft, you should take certain security measures. Read on for some top tips on this matter.

Avoid leaving desirable items unattended

Many incidents of theft happen when the business is unattended. If your company has many important movable items, such as cash and stock, as a general rule, you should limit these items over night or during any prolonged periods of closure.

Invest in an appropriate security system for your premises

It is important to ensure your business premises is secure. This may involve installing an alarm, hiring security personnel, fitting CCTV cameras and security lighting to your premises. However, this size and scale of your security system will depend on the nature of your business. If you own a construction site, for example, you should contact a company that specialises in security solutions for this type of business, like Tag Systems.

Check out your employees before hiring

As mentioned above, theft by employees in small businesses is common. They may be stealing stock, food, money or important company information. The best way to protect your business from internal theft is by making screening a compulsory element of your hiring procedures. This will require requesting a minimum of two references and checking these thoroughly.

Create a culture of zero tolerance

Make sure your employees know that you take internal theft very seriously and that any incidents will be dealt with in strict accordance with the law. Instil this culture by providing regular training sessions and by putting up informative posters in the communal areas of your business premises.

Keep on top of your business insurance

Make sure your insurance is up to date and that it provides you with the appropriate level of cover. For example, some insurance packages may protect you from burglary but not from employee theft. You should speak to your insurer if you have any doubts about your current policy.

Be prepared

Unfortunately, thieves are always coming up with new and sophisticated ways to steal from small businesses. So, it is important to be prepared in case an incident does take place. Carry out regular risk assessments in order to identify potential problems and deal with them immediately. Create a security procedure and communicate this with your staff during regular training sessions. This will include the steps employees should take if they suspect or discover an incident and who should be notified. Additionally, seek advice from other businesses and the police in your area on protecting your business.

Theft is, unfortunately, an increasing concern for small enterprises. However, by taking the appropriate safety measures, you will significantly reduce the vulnerability of your company to this crime.